Archive for May, 2015

On any given day, Mark “Trunk” Kirschenbaum can be found jumping out planes with his GoPro to capture his moments in the sky. But he faced a challenge: Although he would reach up and press the camera’s record button, Kirschenbaum didn’t really know if the camera was “on” until he landed. His solution was Turned On, the visual status indicator for GoPro cameras. Despite the founder of Chandler-based HYPOXIC being an electronics designer and having developed high-tech gear for the extreme athlete since 2006, he needed help learning industrial design skills to bring his creation to fruition. He turned to makerspace HeatSync Labs, where he learned about 3D printing to build his prototype. Located in downtown Mesa, HeatSync is a community-driven, nonprofit shop and workspace where engineers, artists, students and hobbyists come to make prototypes, art and other creative projects. – more at bizjournals.com

A summary of legislative amendments enacted during the most recent session (the First Regular Session) of the 52nd Arizona Legislature that (to varying degrees) affect real estate and real estate lending. The general effective date of all legislation enacted during the session is July 3, 2015. The text of these amendments can be found on the Arizona Legislature’s website (http://www.azleg.gov). – more at realestatedaily-news.com

Credifi Corp. has aggregated data and analytics on more than 10 billion square feet of commercial real estate across the U.S. Now the company has emerged with $8 million in funding to expand its cloud service, which is used by banks, hedge funds and other customers to get breakdowns on property loans, tenants, building occupancies, real-estate investments and legal and compliance issues. – more at thenewsfunnel.com

A recent trend for companies involves moving away from the suburbs and into areas that are more “walkable”. In fact, these areas are appreciating more, which makes them even more attractive to commercial buyers. A prime example is Expedia, Inc., which announced its headquarters is being relocated from a suburb in Seattle where it has maintained operations for close to 20 years to a downtown area within the city. However, Expedia is just one of many companies making the move. – more at www.thenewsfunnel.com

CBRE Research has released its 2015 North America Ports Logistics Report. The inaugural report examines the volume of trade that flows through North American ports, the issues that can affect capacity utilization and the movement of cargo, and the subsequent effects on commerce and commercial real estate markets. The report also includes the first CBRE Ports & Logistics Index, which measures key port infrastructure and real estate metrics and ranks the top U.S. and Canadian port markets for industrial real estate. The Ports of Los Angeles and Long Beach ranked first and second overall on the Index, respectively. – more at realestatedaily-news.com

Long-empty Circles Records building in Phoenix could soon be in escrow for sale

The long-empty Circles Records & Tapes building in downtown Phoenix could soon be in escrow. Larry Ortega, a veteran downtown Phoenix real estate broker with Colliers International, said the 19,400-square-foot building could soon be under contract to be sold to a local development group. He declined to give further details about the group or its plans for the prominent building. – more at bizjournals.com

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Tesoro, a 150-unit apartment property in Phoenix. The asset sold for $8,900,000. – more at azbigmedia.com

If you are heading to Vegas at the end of this week, expect a busy show, as ICSC reports that registrations this year are already up by about 1,000 compared to 2014, with approximately 33,500 people, and possibly more, attending the annual retail real estate convention. “I think, from an activity standpoint, we are going to see the busiest show that we’ve had since the recession,” says Jesse Tron, a spokesman for ICSC. “Each year we’ve seen the numbers going slightly up, slightly up in terms of attendees and activity. This year, people are booking basically every half hour and their calendars are full. It’s going to be a beehive of activity.” – more at nreionline.com